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"i Am Really Upset With Your Appraisal"

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Travis McGee

Senior Member
Joined
Sep 18, 2004
I did a relocation appraisal and was $6000 lower than the other guy. Borrower showed up in my office with her Dad wanting an explanation. She has appealed the value twice. I guess my SIX comps in the same subdivision, all within two months, just wasn't enough.

I love my job.
 

Bobby Bucks

Elite Member
Joined
Jan 27, 2002
Professional Status
Real Estate Agent or Broker
State
North Dakota
I've reached the stage where I actually enjoy that one wacko borrower call a month demanding something about "their" appraisal. I simply go into a civil servant mode and in a robotic tone tell them it's the lender's report and not theirs. It's pure torture for them, fun for me and it's USPAP compliant. :)
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Had one like that recently....posted about it. Borrwer said I ruined her life and her family's life by appraising her home under what they thought is should be. She hung up on me screaming in my ear. I can only imagine what it would have been like if she actually came into my office :angry: .............Hang in there, stick to your guns. You know you are right and............they are simply wrong. I wouldn't let them in my office anymore if it were me.
 
Joined
Jan 16, 2002
Just got off phone with guy from Florida (current owner from an estate)...........

Comps included identical house next door, nearly identical across the street, and very similar one only a few blocks away. Guess what ? He dosn't like the value estimate !!
He wants it to match a current offer to purchase..... you can imagine the rest of the conversation, which I started by asking "have you read the report ?"

I also love my job. B)
 

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
I feel their pain. LOL
 

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
Pamela, oops, I didn't even notice. Something about the looks I guess just makes me talk that way. Women won't leave me alone, now that I got my new Avatar. Know any single women I could be hitting on.

Back to the subject, we wouldn't even be having value problems, if it weren't for those da#$% Republicans. LOL
 

SmilingDog

Member
Joined
Apr 22, 2003
Professional Status
Certified Residential Appraiser
State
California
Just had something like this happen to me. Got a new client order for appraisal, no "estimated value" just go out and do the appraisal for what it's worth. Absolutely no pressure. Did the inspection, the report, etc. Got a call from the lender and the borrower, livid that the value was 20% less than what they expected. And the current opinion of value was less than what another appraiser had done 6 months ago.

BTW - did I mention my sales were similar in location, age, etc, while the other appraiser used brand new construction that had not been finished yet!!!!

Told the client, "you paid for my opinion, I gave it to you, end of story".

They've actually sent me over 20 new orders! Seems there are some lenders out there that appreciate honesty!
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
I've seen this subject on the forum before.

I guess I'm fortunate in that I've managed to work out of my home (for the most part) since the beginning (going on 13 years now).

Here's how I deal with an upset borrower, or real estate agent: I DON'T

I simply don't answer their calls. I did early in my career and it became painfully obvious they only wanted to argue and weren't willing to listen to reason. They want what they want (loan or commission), and they want it right now! Get in their way and they'll take a crack at you.

I write a well crafted letter after my client informs me of their complaints (they can yell at my letter all they want). Seriously, this goes a long way to diffusing the problem--if they can't present comparables they feel are more appropriate or present some other data which would cause me to reconsider, then I don't care to debate an unreasonable person.

-Mike
 

Patti Jury

Senior Member
Joined
Mar 23, 2002
Professional Status
Licensed Appraiser
State
Colorado
Does anyone notice that since the economy crunch.. the rise in foreclosures..etc..

That these situations and questions about your opinion of values have increased as well?
 
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